CPO Futures Snaps 2 Days of Gains

KUALA LUMPUR: Crude palm oil (CPO) futures contracts on Bursa Malaysia Derivatives closed lower yesterday, ending two days of gains in light of a weakness in exports. 

Phillip Futures investment analyst David Ng said the lower export numbers has fuelled concerns over stock levels.

February 2014 eased RM14 to RM2,521 a tonne, March 2014 fell RM37 to RM2,527, April lost RM34 to RM2,529, May 2014 shed RM27 to RM2,528, June 2014 slipped RM26 to RM2,524 and July 2014 went down by RM27 to RM2,519 a tonne. 

Turnover rose to 24,585 lots from 9,557 lots on Thursday while open interest rose to 210,870 contracts from 193,243 contracts previously. 

On the physical market, February South shed RM5 to RM2,540 a tonne.

Source :  Business Times

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